Easy calculation of projected earnings....

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Easy calculation of projected earnings....

(Aliarse btw, I have my reasons)

I need a quick and simple calculation to give me a guestimate on prospective take home pay.

I'm thinking of going back to contracting for a while, working through an umbrella company, and I'm trying to figure out what I would need as a daily rate to acheive a certain take home.

Is there anyone on here with the smarts to point me in the right direction ?

Ta

www.i-resign.com/uk/financialcentre/tax_calculator.aspedit :- Oh and for umbrella's it's kinda different. www.greenlantern35.co.uk/calculator.htm will give you an ideaEdit edit :- If you decide to go with them I get £50 if you'd be so kind as to mention my name.

Contracting as an IFA...?

Angel__Biker wrote

www.i-resign.com/uk/financialcentre/tax_calculator.asp

I've used that but if you click the linky the calculations rely on the April 2004 budget. Assume things have changed slightly?

Nice one AB. It says it's based on 04 figures....but I guess it still applies to 06/07, right ?You still contracting ? () Are you umbrella or your own Ltd ? Any idea how much an umbrella company will take off the bottom line in charges? I want to go PAYE, see

TQ_uk wrote

Contracting as an IFA...?

Nope..plain old boring IT crap...

For a very quick and dirty estimate I simply assume that I will keep 65% of what I earn, flat rate. (I don't try and avoid IR35, I'd rather stump up now that get arse-raped by the IR in the future).It gives a pretty decent ballpark figure.

Grrrr wrote

Nice one AB. It says it's based on 04 figures....but I guess it still applies to 06/07, right ?You still contracting ? () Are you umbrella or your own Ltd ? Any idea how much an umbrella company will take off the bottom line in charges? I want to go PAYE, see

Things have changed slightly but if your umbrellering (which I am currently btw ~~ still have my own ltd as well, but this contract is well over what the IR deem as being possibly not caught) you'll be wanting the best return on your cash. Greenlantern take 4% (might be 6% but I don't have any payslips available to work it out), but their dispensations make it worthwhile for me. Their calculator takes the maximum available into consideration btw so obviously other factors come into it here. They also pay weekly which is nice (assuming you get paid weekly that is). You might want to look at Giant as well (although I wouldn't touch them with a shitty stick, I'd pulled out of a shitty place as they shat on me big time a few years ago, they *may* have improved however) and a few here use them and seem happy .........I've also used prosperity4 in the past, they were more expensive than greenlantern, the service was Ok though but it's best to give them all a call and see whats on offer.As far as I-resign goes it gives a ballpark figure, so add a couple of quid ~~ maybe......

35,500 PA to get £100/day after tax.All the London bicycle messengers earn about a ton per day.And none of them pay any tax. All foreign.

POB/London wrote

35,500 PA to get £100/day after tax.

Yebbut all your tax goes to schools and hospickles, so that's got to be good, right? Think of the children!!!!(It's a good thing that those million extra civil servants and all those malingering fuckers on 'long term sick' don't get paid for out of our tax, eh? )

Hopefully I'll be able to sting them for loads of very costly morphine an dmajor operations when I'm older, to get my money's worth.

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